Hangzhou, China -- (American Business Information) -- ant financial oceanbase today launched its technical product OceanBase's Software as a Service (SaaS) version, which is a financial-level distributed relational database and has been the key computing infrastructure of Alipay since 2010.
Compared to other traditional database solutions, ant financial oceanbase has the characteristics of high stability, scalability, reliability, and budget-friendliness. In October 2019, OceanBase ranked first in the Performance Ranking of the Transaction Processing Performance Committee (TPC), a global non-profit organization that defines transaction processing and database benchmarks.
In 2010, two years after Alibaba launched the annual Double 11 Global Shopping Festival for the first time, it was clear that the traditional commercial database solutions could no longer meet the growing demand of users for Alipay's seamless, stable, scalable, and reliable payment experience. To this end, Ant Financial started developing OceanBase and ultimately replaced all legacy database solutions with this new financial-grade product in 2016.
During the 2019 Double Eleven Global Shopping Festival, Alibaba's total merchandise transaction volume (GMV) reached $38.4 billion in just 24 hours. According to data compiled by Adobe, this exceeded the online retail total of $24.6 billion during the largest shopping holiday in the US retail industry that year (from Black Friday to Cyber Monday). During the Global Shopping Festival on November 11, OceanBase skillfully and quickly processed all transactional database requests, with a peak of 61 million requests per second.
In September 2018, Ant Financial announced an initiative to open up its full range of technology products to support the growth of financial institutions, including helping them optimize user experience and reduce costs. Since then, major financial institutions such as China Construction Bank, Bank of Nanjing, PICC Health, Bank of Suzhou, and Guangdong Rural Credit Union have deployed OceanBase database solutions. OceanBase has helped them improve their database query capabilities, support a wider range of business operations, and significantly reduce software and hardware costs.
The launch of the SaaS version of OceanBase marks a new milestone. SaaS solutions will provide more flexible and cost-effective choices for small and medium-sized enterprise customers and developers, enabling them to access all the computing capabilities provided by OceanBase.
So far, Ant Financial has provided more than 100 technical products and solutions, accelerating the Digital transformation of more than 200 financial institutions.
To learn more about the SaaS version of OceanBase, please visit its product page.
About Ant Financial
Ant Financial is committed to using technology to bring equal opportunities to the world. Our technology, including blockchain, artificial intelligence, security, the Internet of Things, and computing, enables us and our ecosystem partners to provide services to people without bank accounts and with insufficient banking services, providing more secure, transparent, cost-effective, and inclusive financial services to individuals, small and micro individual customers, and small businesses worldwide.
Ant Financial has established an international partnership with global strategic partners to provide services for local users in these markets. We also provide services for Chinese overseas tourists by connecting Alipay with online and offline businesses. Ant Financial's brands include Alipay, Ant Wealth, Online Banking, and WorldFirst. For more information about Ant Financial, please visit our website at www.antfin.com or follow us on Twitter @ AntFinancial.
Alipay has developed from a payment tool to a one-stop digital life platform. Through the Open platform strategy, service providers in local life, public services, financial services, and other fields are introduced to bring consumers a more comprehensive experience. This process, it helps businesses realize digital operations and promote Digital transformation of the service industry.
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